Solar Panel Cost Guide in Ridgeland, MS (2024 Update)
- Ridgeland Solar Installation Cost: $18,350
- 25-Year Savings: $18,927
- Payback Period: 13.4 Years
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Average Cost of Solar Panels in Ridgeland
Let’s have a look at the average cost of solar panels in Ridgeland.
Although the national average of solar panels is $2.66 per watt, solar panels in Ridgeland typically cost about 3.The average solar panel system size in Ridgeland is around 8.3 kilowatts, meaning a cost of about $18,350 for a solar installation, or $26,240 before the 0 federal solar tax credit is applied.
Keep in mind that the numbers above are only averages. The price you’ll pay for solar will differ based on your household energy use, the type of solar panels you want to get, your solar contractor and more.But, once you've paid the upfront cost of installation, the return on investment for most homeowners is quite rewarding, with a net average savings of about $16,000 over 20 years on power bills.
For a free quote from a local solar installer that has been pre-vetted by EcoWatch, click the button below.
Solar savings over time in Ridgeland
| Year | Return on Investment |
|---|---|
| 1 years | $-16,982 |
| 3 years | $-14,248 |
| 5 years | $-11,513 |
| 7 years | $-8,778 |
| 9 years | $-6,043 |
| 11 years | $-3,308 |
| 13 years | $-573 |
| 15 years | $2,162 |
| 17 years | $4,897 |
| 19 years | $7,632 |
| 21 years | $10,366 |
| 23 years | $13,101 |
| 25 years | $15,836 |
Top Solar Installers in Ridgeland
Installing solar panels by yourself can be a challenging undertaking, which is why hiring a solar installation company is a good option for many homeowners. Companies can also have access to quality options of the best solar panels and help you pick which one will be right for you.
If you're on the hunt for a solar installer in Ridgeland, the EcoWatch team has put together a list of our top suggestions here:
See all of the solar companies in Ridgeland
Factors that Affect Solar Panel Costs in Ridgeland
For many Ridgeland homeowners, the decision to install a solar energy system comes down to cost. However, the range of solar installation costs can be quite wide in Ridgeland, with typical prices between $20,000 to $40,000. There are several factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of solar panels in Ridgeland, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home’s energy usage, which you can figure out by looking at past power bills. Your overall cost can increase by around $3,140 for each additional kilowatt you need.Some solar panel brands — like Maxeon from SunPower — cost more upfront but also tend to offer better efficiency. In a city like Ridgeland, where sunlight is abundant, efficiency can quickly pay off. In addition, if you have a small roof or limited space for your panels, higher efficiency options will be more impactful. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
If paying for solar panels out of pocket is too expensive, solar loans are an affordable option because they reduce your upfront costs and allow you to pay for your system over a term of, on average, between five and seven years.Although solar loans make switching to solar energy more accessible for Ridgeland homeowners, they can also add to the total you pay for your system, depending on your interest rate and how long you take to pay off the loan. If you make a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar company you pick will affect your total cost to go solar. Different companies will charge different amounts for the equipment and labor.You may notice national solar installers that have lower prices because of their bigger brand name and access to bulk equipment pricing, or you might see small, local installation companies offering deals or specials to compete with those larger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.27 | $13,716 | $10,975 | 13.9 years |
| 8 kW | $3.20 | $17,936 | $14,985 | 13.6 years |
| 10 kW | $3.14 | $21,980 | $19,171 | 13.4 years |
| 12 kW | $3.08 | $25,848 | $23,533 | 13.1 years |
| 14 kW | $3.01 | $29,541 | $28,070 | 12.8 years |
| 16 kW | $2.95 | $33,058 | $32,783 | 12.6 years |
| 18 kW | $2.89 | $36,399 | $37,673 | 12.3 years |
| 20 kW | $2.83 | $39,564 | $42,738 | 12.0 years |
How to Save on Solar Panels
The solar installer you choose will impact not only your total costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should consider, including:
- Warranty: Companies typically offer different types of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Installation Process: Get detailed information from your solar company about the installation process and what to expect, such as when the site survey will be done and how long it will take.
- Reputation: Companies that have been operating for many years likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. Even though there are many options for which model of solar panel you can get, not every company will have access to the exact one you may want or need, so make sure you take a look at their list of options before deciding.
EcoWatch's Ridgeland, MS Solar Cost FAQs
What is the average cost of installing solar panels in Ridgeland?
The average cost of solar panels in Ridgeland is about $15,700 for a 5-kW system and $31,400 for a 10-kW system before the ITC, but the actual cost will depend on certain factors such as the kind of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to consider when buying solar panels?
The upfront cost is a crucial factor to consider, but whether it’s the most important for you depends on why you decided to go solar. In areas where rooftop space is limited, efficiency can be more important than the cost. Other factors that are important to take into account are the quality and durability of your solar panels.
How will solar panels impact my home value?
Installing solar panels on your home can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Ridgeland is currently $260,238, so you could be looking at a value of about $10,670 more than houses without a solar system. The specific figures will vary, but most experts agree that installing solar panels in Ridgeland is a worthwhile investment.
How many solar panels do I need to power my home?
To figure out what solar panel system size you need, you need to know how much energy your home uses and how much sunlight your home gets. For a general estimate, however, since each panel can generally produce about 250 to 400 watt-hours per hour, the average house will need 20 to 35 panels.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.